Total Rewards Analyst - 401k
Job Posting for Total Rewards Analyst - 401k at State Farm
Overview
We are not just offering a job but a meaningful career! Come join our passionate team!
As a Fortune 50 company, we hire the best employees to serve our customers, making us a leader in the insurance and financial services industry. State Farm embraces diversity and inclusion to ensure a workforce that is engaged, builds on the strengths and talents of all associates, and creates a Good Neighbor culture.
We offer competitive benefits and pay with the potential for an annual financial award based on both individual and enterprise performance. Our employees have an opportunity to participate in volunteer events within the community and engage in a learning culture. We offer programs to assist with tuition reimbursement, professional designations, employee development, wellness initiatives, and more!
Visit our Careers page for more information on our benefits, locations and the process of joining the State Farm team!
Responsibilities
We are seeking a skilled and experienced Total Rewards Analyst to support administration of State Farm’s 401(k) Plan. In this position you will play a crucial role in managing and analyzing our organization's retirement savings plan, specifically the 401(k) Plan offered to our employees.
Strong 401(k) plan experience is highly required and prior benefits administration experience is helpful. Applicants need to understand regulatory requirements regarding 401(k) Plans (Internal Revenue Service, Department of Labor, ERISA regulations).
Primary Responsibilities:
Skills and Requirements:
We are not just offering a job but a meaningful career! Come join our passionate team!
As a Fortune 50 company, we hire the best employees to serve our customers, making us a leader in the insurance and financial services industry. State Farm embraces diversity and inclusion to ensure a workforce that is engaged, builds on the strengths and talents of all associates, and creates a Good Neighbor culture.
We offer competitive benefits and pay with the potential for an annual financial award based on both individual and enterprise performance. Our employees have an opportunity to participate in volunteer events within the community and engage in a learning culture. We offer programs to assist with tuition reimbursement, professional designations, employee development, wellness initiatives, and more!
Visit our Careers page for more information on our benefits, locations and the process of joining the State Farm team!
Responsibilities
We are seeking a skilled and experienced Total Rewards Analyst to support administration of State Farm’s 401(k) Plan. In this position you will play a crucial role in managing and analyzing our organization's retirement savings plan, specifically the 401(k) Plan offered to our employees.
Strong 401(k) plan experience is highly required and prior benefits administration experience is helpful. Applicants need to understand regulatory requirements regarding 401(k) Plans (Internal Revenue Service, Department of Labor, ERISA regulations).
Primary Responsibilities:
- Design and maintain the organization's 401(k) plan, considering employee retirement goals and objectives.
- Maintain strong vendor relationship and engage in vendor monitoring.
- Provide guidance and support in day-to-day administration as well as think strategically about future design.
- Ensure compliance with legal and regulatory requirements, including ERISA, and oversee the preparation of required communications.
- Provide educational resources and guidance to plan participants, helping them understand the benefits and features of the 401(k) plan.
Skills and Requirements:
- Bachelor's degree in finance, business, or a related field.
- Strong knowledge of retirement plans, particularly 401(k) plans, including plan design, investment options, compliance requirements, and recordkeeping processes.
- Ability to interpret and make updates to plan documents.
- Familiarity with retirement plan regulations, particularly ERISA, and the ability to ensure compliance with legal requirements.
- Excellent analytical skills, with the ability to interpret plan reports and data to develop recommendations or solutions.
- Strong critical thinking, problem solving, and decision-making skills.
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